Plug Power downgraded to Sell from Neutral at Seaport Research

Seaport Research downgraded Plug Power (PLUG) to Sell from Neutral with a $1 price target President Trump’s “Unleashing American Energy” executive order called for a 90-day freeze and review of the Department of Energy’s OCED H2Hubs program, where only a fraction of $8B in grants has been obligated so far and, therefore, the bulk of funding is “highly vulnerable,” the analyst tells investors. Since the end of September, incremental macro news flow for both North America and Europe, Plug’s two most important markets, has been bearish, the analyst added.